Mapping technology driving economic growth in India

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

 

Today, we use maps every day to find a variety of information, whether it’s a nearby hospital or a good cup of coffee. According to a BCG report commissioned by Google, the Indian geo services industry generated $3 billion in revenue in 2011 alone while accounting for approximately 1,35,000 jobs. More significantly, the impact of the geo services industry is valued at approximately 15 times it’s own size. In India, geo services help Indian businesses drive $40-45 billion in revenue, save $70-75 billion in costs and affect 8-9 million jobs in India. The BCG report also found that Indian consumers are also willing to pay $1.5-2 billion more than they currently do for geospatial services such as online maps, navigation systems and local searches.

Lalitesh Katragadda, Country Head - India Product, Google said, “Geo services helped generate $2 billion in revenue within the Indian accommodation and food services industry alone. In the report, restaurants reported benefitting from new customers finding them through local searches. Users benefit as it makes it easier for them to find the information on local offerings and creating valuable efficiencies in their day-to-day lives.”

The Indian geo services industry is comprised of companies that process the location data, companies that produce geo-enabled software and expert industries that use geospatial data to generate insights. Beyond the industry itself, a wide variety of other industries in India also use geo services....See More